Saving! Let’s face it….saving can be hard. Some of us are freaking awesome at it and some of us suck at it. I have fluctuated in between quite a few times in my life. I came to realize it isn’t as hard as it seems. The one thing it takes is dedication and commitment that you truly want to do this.
If one of your goals is to save money this year (and by the way I know we are halfway through 2018), you can definitely do it. Comes with cutting back a little here, checking rates for things you currently pay, and taking an overall assessment of where you stand.
15 easy things to implement to start your savings journey
I’ve compiled a list of easy things to get started in your savings goals. Read the list below and pick a few to start. Later we will go over some tried and true saving tactics and challenges to help you on your way.
- Stop eating out
- Making gifts yourself
- Bring your lunch to work from home
- Use coupon apps such as Ibotta, Checkout51, and The Krazy Coupon Lady as she always have great deals .
- One use your banks ATM. Those $3 they charge you plus the $3 your bank charges add up!
- Never go shopping hungry. Believe me, I’ve been there and came home with bags and bags full of snacks. The kids were happy but hubby not so much.
- Rent your wardrobe instead of paying high price and throwing money away. Try RetailMeNot, and Rent The Runway
- Buy in bulk at stores such as BJ’s.
- Make sure everyone turns off the lights when they are not in use
- Cancel your cable subscription and try Amazon fire stick or similar service
- Renegotiate your cell phone plan or cancel altogether and use prepaid
- Sell unwanted and old items
- Stop smoking
- Work towards building credit so that you have access to lower rates
- Reuse grocery bags
Now for the good stuff!
There are 26 weeks left in 2018 for saving
Choosing which strategies or tactics to implement into your life and skyrocket your savings is a personal choice. Choose one that you feel comfortable with.
But please choose something. DO NOT do nothing! It’s your time to save for whatever want, hope, or dream you have. Let’s start today! We’re planting seeds for tomorrows growth.
Start contributing or increase your 401k
If your employer offers a retirement plan such as 401k, then start contributing. This is saving! And its super easy. You know what is the icing on top? If your employer matches your contribution. Most employers who do match up to a certain percentage like 6%. So if you only contribute 3%, your employer will mat that 3%. On the other hand if you contribute 10%, your employer will only contribute 6%. Either way, start today.
Start the $5 challenge
In this challenge, you put away every five dollar bill that is in your wallet or purse. Most of us at a few times during the week get a five dollar bill back when we are given change. Tuck it away as soon as you get it. When you get home, put it in your savings jar. I saved $780 last year by the $5 challenge alone.
Save $500 in 30 days
In this strategy, you are saving for thirty days at a time. You start at the beginning of the month and save an amount equal to the day. For instance, on the first you save $1, on the 2nd you save $2, on the 19th you save $19, and so on. Easy peasy! You may even implement this four times during the year and save $2,000 by the end of the year.
The Increment of 3 challenge
In this challenge we are saving for the remaining 26 weeks of the year and will have over $1000 when complete. For the first week, you sack away $3. For the second week, you put $6 in savings. For the third week, you put $9 in that savings account. By week 26, you will be up to $78 to put in your savings. Once its all said and done, you will have $1,053 in savings.
And if you need more in depth and face to face assistance with starting your savings, building wealth, or getting your finances on track, I recommend the Financial Breakthroughs Webinar.
Read these posts to learn even more effective ways to budget, save, and get your finances on track:
- Saving and Planning for Unexpected Expenses
- Living and Thriving on One income
- Put Your Savings on Autopilot
- Financial Boss Moves to Make in your 40s